LEB Exam 2 Questions and Answers
Q: Trade Secret
✓✓ anything that is not generally known, not readily available to others,
and provides a competitive advantage; doesn't have to be disclosed like
for a patent
ex: formulas, processes, strategies
Q: Trade Secrets are ONLY protected by _____ under the _____Act
✓✓ state law, Uniform Trade Secrets
Q: in order for a firm to file a trade secret misappropriation case, they
must prove (3):
✓✓ 1. the information was actually a trade secret
2. the firm maintained reasonable measures to protect secrecy (ex:
employee NDAs, secured building, etc.)
3. the Defendant improperly acquired, used or disclosed the trade secret
info.
Q: When determining whether a trade secret exists, courts examine these
5 factors:
,✓✓ 1. whether the info is known outside the company
2. how easily another could develop the info independently
3. the value of the info to the company
4. the amount of time & money the company put into creating &
protecting the info
5. how well they reasonably protected it
Q: 2 ways a person would NOT be infringing on Trade Secret info:
✓✓ 1. reverse engineering
2. developing independently w/o illegal acquisition of info
Q: Doctrine of inevitable disclosure (of a trade secret)
✓✓ prevents ex-employees from working for another company if:
1. the companies are competitors
2. the employee has trade secret info
3. the new job is similar enough to the old one that the trade secret would
likely be revealed
*NOT all courts agree on this
Q: Patents protect _____ but not _____
✓✓ inventions NOT discovery
Q: a patent lasts for _____ years from when its is _____ providing the
exclusive right to:
,✓✓ 20, filed;
make, use, sell
-->then goes to public domain
Q: if 2 people both invent the same thing, the 1st to ____ will receive the
patent right
✓✓ file or disclose to public
Q: in order for something to be patent eligible, it must meet these
requirements (5):
✓✓ 1. patentable subject-matter (invention)
2. useful
3. novel (not disclosed by prior art of another inventor)
4. non-obvious
5. filed within 1 year of disclosure of own patentable info
Q: Prior art includes:
✓✓ -being placed on sale
-printed publication enabling another to recreate easily
-use by or demonstration by owner in public so another could easily copy
-use in public (not the inventor) w/o confidentiality agreement from
inventor
Q: Q: Are things that are genetically modified patentable?
✓✓ Yes
Q: Q: Can software be patented?
, ✓✓ the algorithms themselves can't, but what they do and how they do it
can be (i.e. math isn't, but business method is)
Q: Patent ownership is _____ & _____
✓✓ fee simple & freely transferable
-->license some to use and exclude others if they desire
Q: Work for Hire & Patents
✓✓ the rights of a patent invented by an employee who used company
resources and time are granted to the company
Q: shop right
✓✓ company has the right to use an employee's invention without
needing a license even if the employee was not hired to invent such a
thing for the company (like work for hire)
Q: requirements for patent infringement:
✓✓ 1. new invention must contain ALL elements described in the claims
of the patented invention (literal infringement)
2. OR must be substantially equivalent (Doctrine of Equivalency) so that
even if one element is different, it performs the SAME *function*
Q: Trademark
✓✓ any word, phrase, symbol, design, color, or sound that is associated
with a specific brand's reputation
Q: in order for a trademark to be protectable is must have _____
✓✓ secondary meaning-enough consumers associate it with a particular
*source* (company)
Q: Trade Secret
✓✓ anything that is not generally known, not readily available to others,
and provides a competitive advantage; doesn't have to be disclosed like
for a patent
ex: formulas, processes, strategies
Q: Trade Secrets are ONLY protected by _____ under the _____Act
✓✓ state law, Uniform Trade Secrets
Q: in order for a firm to file a trade secret misappropriation case, they
must prove (3):
✓✓ 1. the information was actually a trade secret
2. the firm maintained reasonable measures to protect secrecy (ex:
employee NDAs, secured building, etc.)
3. the Defendant improperly acquired, used or disclosed the trade secret
info.
Q: When determining whether a trade secret exists, courts examine these
5 factors:
,✓✓ 1. whether the info is known outside the company
2. how easily another could develop the info independently
3. the value of the info to the company
4. the amount of time & money the company put into creating &
protecting the info
5. how well they reasonably protected it
Q: 2 ways a person would NOT be infringing on Trade Secret info:
✓✓ 1. reverse engineering
2. developing independently w/o illegal acquisition of info
Q: Doctrine of inevitable disclosure (of a trade secret)
✓✓ prevents ex-employees from working for another company if:
1. the companies are competitors
2. the employee has trade secret info
3. the new job is similar enough to the old one that the trade secret would
likely be revealed
*NOT all courts agree on this
Q: Patents protect _____ but not _____
✓✓ inventions NOT discovery
Q: a patent lasts for _____ years from when its is _____ providing the
exclusive right to:
,✓✓ 20, filed;
make, use, sell
-->then goes to public domain
Q: if 2 people both invent the same thing, the 1st to ____ will receive the
patent right
✓✓ file or disclose to public
Q: in order for something to be patent eligible, it must meet these
requirements (5):
✓✓ 1. patentable subject-matter (invention)
2. useful
3. novel (not disclosed by prior art of another inventor)
4. non-obvious
5. filed within 1 year of disclosure of own patentable info
Q: Prior art includes:
✓✓ -being placed on sale
-printed publication enabling another to recreate easily
-use by or demonstration by owner in public so another could easily copy
-use in public (not the inventor) w/o confidentiality agreement from
inventor
Q: Q: Are things that are genetically modified patentable?
✓✓ Yes
Q: Q: Can software be patented?
, ✓✓ the algorithms themselves can't, but what they do and how they do it
can be (i.e. math isn't, but business method is)
Q: Patent ownership is _____ & _____
✓✓ fee simple & freely transferable
-->license some to use and exclude others if they desire
Q: Work for Hire & Patents
✓✓ the rights of a patent invented by an employee who used company
resources and time are granted to the company
Q: shop right
✓✓ company has the right to use an employee's invention without
needing a license even if the employee was not hired to invent such a
thing for the company (like work for hire)
Q: requirements for patent infringement:
✓✓ 1. new invention must contain ALL elements described in the claims
of the patented invention (literal infringement)
2. OR must be substantially equivalent (Doctrine of Equivalency) so that
even if one element is different, it performs the SAME *function*
Q: Trademark
✓✓ any word, phrase, symbol, design, color, or sound that is associated
with a specific brand's reputation
Q: in order for a trademark to be protectable is must have _____
✓✓ secondary meaning-enough consumers associate it with a particular
*source* (company)
